Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 47.5% in the third quarter, Holdings Channel reports. The institutional investor owned 4,487 shares of the transportation company’s stock after selling 4,067 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Old Dominion Freight Line were worth $892,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its position in shares of Old Dominion Freight Line by 87.6% during the first quarter. Public Employees Retirement Association of Colorado now owns 27,894 shares of the transportation company’s stock valued at $6,117,000 after acquiring an additional 13,028 shares during the last quarter. SVB Wealth LLC boosted its position in shares of Old Dominion Freight Line by 88.9% during the first quarter. SVB Wealth LLC now owns 2,465 shares of the transportation company’s stock worth $541,000 after buying an additional 1,160 shares during the period. Silvercrest Asset Management Group LLC grew its stake in shares of Old Dominion Freight Line by 99.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 6,578 shares of the transportation company’s stock valued at $1,443,000 after buying an additional 3,285 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Old Dominion Freight Line by 91.3% in the 1st quarter. Janus Henderson Group PLC now owns 26,320 shares of the transportation company’s stock valued at $5,769,000 after buying an additional 12,563 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Old Dominion Freight Line by 4.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $4,028,510 in the last quarter. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Stock Up 2.2 %

Shares of NASDAQ:ODFL opened at $225.11 on Tuesday. The firm has a 50 day simple moving average of $204.50 and a 200-day simple moving average of $192.81. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $48.06 billion, a PE ratio of 39.35, a P/E/G ratio of 4.61 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company earned $1.54 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Barclays increased their target price on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Robert W. Baird dropped their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Citigroup increased their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $200.00.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.